Gas price surge grabs attention of lawmakers

WASHINGTON -- A surge in natural gas prices is raising fears of higher heating costs this winter and has prompted a demand in Congress for an investigation into possible price gouging and market manipulation. Natural gas prices, on both the spot and futures market, have soared nearly 50 percent since just before Thanksgiving. The spot price on a key trading center on Tuesday was $6.59 per thousand cubic feet compared with $4.45 on Nov. 25, an increase of 48 percent.

Calif. pension fund files suit against NYSE

SACRAMENTO -- The nation's largest pension fund is filing a class action lawsuit against the New York Stock Exchange and seven trading firms, alleging that fraudulent practices cost it millions of dollars in recent years. The $154 billion California Public Employees Retirement System will seek to recover pension fund investment money it lost because of alleged fraud.

Judge OKs settlement for Sprint, shareholders

KANSAS CITY, Kan. -- A federal judge on Tuesday approved a $50 million settlement between Sprint Corp. and shareholders who sued over its derailed merger with WorldCom Inc. The judge ruled the settlement was "fair, reasonable and adequate." The settlement also must be approved in Jackson County, Mo., Circuit Court. The agreement covers shareholders who bought Sprint stock from October 1999 to September 2000 and had losses.

-- From wire reports